Luxury Consumption and its Relevance in India- A Pandemic View
Keywords:Luxury, Indian, apparel, consumption, retail, pandemic
India’s stupendous economic growth is to reckon with. The number of Indians in the millionaire and billionaire club is ballooning at monumental rates. With globalization and technological development, the luxury industry has undergone epic changes in the past 20 years. The Indian middle-class is gradually turning from pursuant to purchaser, demanding an aspirational lifestyle. This has created a massive opportunity for global luxury brands in India. But chasing the Indian diaspora is quite challenging and unpredictable considering the enormous sociocultural diversity seen in the country. Different layers of Indian society seek luxury with multifarious anticipation levels of service, correspondence, experience, and contentment. Covid-19 has taken a toll on all industries. Luxury retailing in these circumstances is a new ball game altogether. This review paper, taking on a qualitative assessment path, explores the past conceptualizations of luxury and its relevance in the Indian subcontinent in current times. It also throws light on prospects and threats posed in front of the luxury industry and marketing and communication tactics that need to be applied to mesmerize the Indian buyers.